Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0156%/8h= +17.0% APRpaid last 24h +0.012%

Price spread now: Phoenix against Aster−0.479%95s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.479% cheaper against Aster than usual: you would sell low and buy high (spread −0.479% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$48 on $10k: about 10 days of funding at the current rate (+$5 a day). The two prices were read 95 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XLMUSDT	0.2127	0.0109	pay 0.0109% / 8h	5h 41m	$566K	$624K	75x
Short	Phoenix XLM	0.2116	0.0264	get 0.0033% / 1h	41m 55s	$5K	$46K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AsterbpFee PhoenixbpOrdersPrice spread, now −0.479%Rate

Funding earned: $32.69
Price spread: −0.479% → 0.000%: −$47.86
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$30.17
Costs to cover: 0.150%
Break-even: 13.5 days

Slippage unknown: Aster: live order book, 21 min ago; Phoenix: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aster live order book, 21 min ago	2.36 bp	8.2 bp −$8	30.5 bp −$305	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XLM on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2126	−0.006%	$4K	—	150x	as long as short
Lighter XLM	+0.0096%	1h	0.2129	+0.123%	$358K	$901K	5x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2122	−0.209%	$54.4M	$153.4M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2122	−0.229%	$42.9M	$45.6M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2120	−0.309%	$12.6M	$41.6M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2122	−0.192%	$4.1M	$6.7M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2122	−0.229%	$23.8M	$26.8M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2121	−0.248%	$14.0M	$9.9M	75x	as long as short
Bitget XLMUSDT	+0.0100%	8h	0.2122	−0.201%	$25.5M	$20.7M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2121	−0.248%	—	$6.7M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2126	−0.013%	$93K	$262K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2114	−0.585%	$253K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2118	−0.402%	$12K	$305K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2114	−0.573%	$585K	$598K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2118	−0.385%	$170K	$256K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2126	−0.027%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2126	−0.041%	$2K	$1.6M	20x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2127	+0.020%	$196K	$251K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2127	+0.025%	$8.9M	$8.9M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2122	−0.219%	$189K	$1.8M	10x	as long as short
Aster XLMUSDTlong	+0.0109%	8h	0.2127	long leg	$566K	$624K	75x
SoDEX XLM-USD	+0.0111%	1h	0.2127	+0.010%	$2K	$6K	5x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2126	−0.032%	$2.3M	$5.0M	75x	as long as short
dYdX XLM-USD	+0.0227%	1h	0.2127	+0.001%	$23K	$2K	10x	as long as short
Phoenix XLMshort	+0.0264%	1h	0.2116	−0.479%	$5K	$46K	5x
Hyperliquid XLM	+0.0443%	1h	0.2128	+0.076%	$12.3M	$6.2M	5x	as long as short
Kraken Futures PF_XLMUSD	+0.0462%	1h	0.2127	+0.026%	$2.6M	$2.7M	50x	as long as short
Coinbase International XLM-PERP-INTX	+0.0464%	1h	0.2125	−0.055%	$233K	$1.5M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0517% / S −0.0193%	1h	0.2126	−0.032%	$44K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0691%	1h	0.2128	+0.053%	$528K	$153K	25x	as long as short
Injective XLM/USDC PERP	+0.1081%	1h	0.2125	−0.074%	$683	$241K	12x	as long as short